August 3, 2013 by Dan Mitchell
I like tax havens for the simple reason that we need some ways of restraining the greed of the political class.
Simply stated, if profligate politicians think that we are “captive customers,” they are much more likely to impose (even) higher tax rates (as we’ve seen in the past couple of years in Europe). But if they think that we have escape options, they’ll probably exercise some self control.
That’s why I defend nations such as Switzerland, which often are persecuted by politicians from high-tax nations.
It’s also why I defend the tax system of the United States.
Huh?!? What do I mean by that?
Well, while there are many bad things about the American tax system (includingpervasive double taxation and a very uncompetitive corporate tax system), one of few redeeming features of our tax system is that we are a tax haven.
Not for Americans, of course, but it turns out we have some good rules for foreigners.
Here’s some of what was recently published by the Heartland Institute.
No comments:
Post a Comment